Beyond Meat will venture into plant-analogue products that mimic whole-muscle meat cuts, its founder told the Wall Street Journal.
Like its main rival Impossible Foods, Beyond’s offerings have been limited to products that imitate ground, formed meat products like patties and sausages. But Ethan Brown told the Journal’s Global Food Forum that the company plans to launch a “sliced steak” analogue product this year. “It’s probably one of our best products to date,” he said.
Beyond Meat has had recent problems, posting a loss of more than $100 million in the most recent quarter. Its stock price has fallen 85% in the last 12 months. It is facing a slowdown in enthusiasm for meat analogues, and is embroiled in a lawsuit with a former co-packer.